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Deal reached on malpractice insurance

Friday, Sept. 7, 2001 | 9:55 a.m.

SUN CAPITAL BUREAU

CARSON CITY -- State Insurance Commissioner Alice Molasky-Arman said Thursday she has reached an agreement with the St. Paul insurance group to raise medical malpractice insurance rates over a six-month period in Clark County.

She said there will be a 35 percent increase effective as of last Saturday, an additional 15 percent increase Dec. 1 and another 9.5 percent increase on March 1, 2002. The cumulative effect will be a 70 percent rise.

St. Paul Fire and Marine Insurance Co., St. Paul Mercury Insurance Co. and St. Paul Medical Liability Insurance Co. had sought an increase of 83.6 percent, which Molasky-Arman rejected.

The companies had asked for reconsideration and requested a hearing that was set for today in Las Vegas. But that has been canceled.

The rates for the rest of the state will not change.

Molasky-Arman said the company claimed it was justified in its request because of recent high jury verdicts and settlement agreements.

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